Stevanato Group S.p.a. · NYSE:STVN
Stevanato — FY2022 Earnings Presentation
27 slides from Stevanato's earnings presentation, Mar 2, 2023
Slide 1: Q4 and Full Year 2022 Financial Results
Stevanato Group Q4 and Full Year 2022 Financial Results March 2nd, 2023 Exhibit 99.1
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation may include forward-looking statements. The words "expect,” “growth”, “drive,” “create,” “well positioned,” “continues,” “remain,” “estimate,” "'deliver", "accelerating", "sustained", "building", "believe", "future“ and similar expressions (or their negat
Slide 3: Earnings Call Participants
Stevanato Group Q4 and Full Year 2022 Financial Results Earnings Call Franco Stevanato Executive Chairman Franco Moro CEO Marco Dal Lago CFO Lisa Miles SVP IR Q4 and Full Year 2022 Financial Results
Slide 4: Franco Stevanato, Executive Chairman
Franco Stevanato Executive Chairman Q4 and Full Year 2022 Financial Results
Slide 5: FY 2022: Building Track Record of Excellence with Bright Outlook for Sustained Future Growth
FY 2022: Building Track Record of Excellence with Bright Outlook for Sustained Future Growth The collective efforts of our employees worldwide led to outstanding execution in 2022, building a track record of consistent delivery Well positioned against a backdrop of favorable demand, and the fundamen
Slide 6: Franco Moro, Chief Executive Officer
Franco Moro Chief Executive Officer Q4 and Full Year 2022 Financial Results
Slide 7: A Strong Finish in 2022
A Strong Finish in 2022 2022 Key Performance Indicators € 983.7M Revenue 17% Y-o-Y Revenue Growth € 263.6M Adj. EBITDA* 26.8% Adj. EBITDA Margin* € 0.54 Diluted EPS ~€ 237M Q4 2022 New Order Intake ~€ 957M Backlog at year-end 2022 ~30% Revenue from HVS on FY 2022 € 0.56 Adj. Diluted EPS* ~41% increa
Slide 8: Successful Progression against our Strategic Pillars in 2022
Successful Progression against our Strategic Pillars in 2022 Multi-Year Pipeline HVS Growth Global Expansion R&D Innovation As we further advance these strategic imperatives in 2023, we expect that our efforts will yield sustainable organic growth in years to come Q4 and Full Year 2022 Financial Res
Slide 9: Refining Capital Spending Plans Amid Rising Demand: Fishers, IN
Refining Capital Spending Plans Amid Rising Demand: Fishers, IN Q4 and Full Year 2022 Financial Results In U.S. and Europe, future demand has outpaced our expectations Working alongside customers to better address needs; with added visibility, we are accelerating investments in Fishers to capitalize
Slide 10: Maximizing Industrial Footprint to Capitalize on Demand
Maximizing Industrial Footprint to Capitalize on Demand Q4 and Full Year 2022 Financial Results Latina Piombino Dese Fishers, IN New building completed: started first commercial batch production Completed largest cycle of CapEx: commercial production exp. in fall 2023. Exp. temporary inefficiencies
Slide 11: Marco Dal Lago, Chief Financial Officer
Marco Dal Lago Chief Financial Officer Q4 and Full Year 2022 Financial Results
Slide 12: Q4 2022: Financial Highlights
Q4 2022: Financial Highlights Q4 2022 Revenue increase driven by organic growth in both segments, shift toward HVS and positive FX effect (on constant currency basis, +23% yoy) Top-line results better than expected due to the timing of revenue previously forecasted in Q1 2023; including revenue from
Slide 13: Full Year 2022: Financial Highlights
Full Year 2022: Financial Highlights 2022 Revenue increase driven by organic growth in both segments, shift toward HVS and positive FX effect (on constant currency basis, +13% yoy) Revenue from HVS increased 41% to record €293.2M Covid revenue decreased to 11% of 2022 revenue vs 15% in 2021; success
Slide 14: Q4 and Full Year 2022 Segment Trends
Q4 and Full Year 2022 Segment Trends Q4 and Full Year 2022 Financial Results __________ *Rounded figures Q4 revenue increased 25% yoy to € 231.5M (21% on a constant currency basis) Growth driven by 31% increase in high value solutions and 21% increase from other containment and delivery solutions Gr
Slide 15: Balance Sheet with Financial Flexibility
Balance Sheet with Financial Flexibility Year Ended December 31, 2022 € 302.6M CapEx* € 103.3M Net Cash Generated from Operations € 228.7M Total Cash and Cash Equivalents € 46M Net Financial Position (€ 137M) Free Cash Flow* Secured two loans totaling € 130M (February 2023) to support ongoing capita
Slide 16: CapEx Plan: Investing to Drive Durable, Organic Growth
CapEx Plan: Investing to Drive Durable, Organic Growth Q4 and Full Year 2022 Financial Results ~70 35% to 40% of 2023 Revenue (€ Million) CapEx Crosswalks For FY 2022, Capital Expenditures were € 302.6M as we continued to invest in our strategic global expansion Focusing efforts on priority projects
Slide 17: Introducing 2023 Guidance
Introducing 2023 Guidance Q4 and Full Year 2022 Financial Results __________ *Adjusted DEPS and Adjusted EBITDA are non-GAAP financial measures. Please refer to slides 20-27 for a reconciliation of non-GAAP measures 2023 Guidance assumes various headwinds and tailwinds, and we expect: H2 results wil
Slide 18: Franco Moro, Chief Executive Officer
Franco Moro Chief Executive Officer Q4 and Full Year 2022 Financial Results
Slide 19: Summary
Summary FY 2022 results demonstrate that we have the right strategy Operating in an environment of strong demand, growing end markets and multi-year secular drivers Capital allocation priorities designed to meet current and future customer demand trends Timing of demand requires investment years in
Slide 20: Reconciliation of Non-GAAP Financial Measures (Unaudited)
Reconciliation of Non-GAAP Financial Measures (Unaudited) This presentation contains non-GAAP financial measures. Please refer to the tables included in this presentation for a reconciliation of non-GAAP measures. Management monitors and evaluates our operating and financial performance using severa
Slide 21: Reconciliation of Revenue to Constant Currency Revenue
Reconciliation of Non-GAAP Financial Measures Reconciliation of Revenue to Constant Currency Revenue (Amounts in € millions) (Unaudited) Q4 and Full Year 2022 Financial Results
Slide 22: Reconciliation of EBITDA
Reconciliation of Non-GAAP Financial Measures Reconciliation of EBITDA (Unaudited) (Amounts in € millions) (Unaudited) Q4 and Full Year 2022 Financial Results
Slide 23: Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Net Profit and Diluted EPS
Reconciliation of Reported and Adjusted EBITDA, Operating Profit, Income Taxes, Net Profit and Diluted EPS (Unaudited) (Amounts in € millions, except per share data) Reconciliation of Non-GAAP Financial Measures (1) During the three months and the year ended December 31, 2022, the Group recorded res
Slide 24: Reconciliation of Free Cash Flow
Reconciliation of Non-GAAP Financial Measures Free Cash Flow (Amounts in € millions) (Unaudited) Q4 and Full Year 2022 Financial Results
Slide 25: Reconciliation of Net Cash
Reconciliation of Non-GAAP Financial Measures Net Cash (Amounts in € millions) (Unaudited) Q4 and Full Year 2022 Financial Results
Slide 26: Reconciliation of Capital Expenditures
Reconciliation of Non-GAAP Financial Measures Capital Expenditures (Amounts in € millions) (Unaudited) Q4 and Full Year 2022 Financial Results
Slide 27: Reconciliation of 2023 Guidance for Adjusted EBITDA, Operating Profit, Net Profit and EPS
Reconciliation of Non-GAAP Financial Measures Reconciliation of 2023 Guidance for Adjusted EBITDA, Adjusted Operating Profit, Adjusted Net Profit and Adjusted Diluted EPS (Unaudited) (Amounts in € millions, except per share data) Q4 and Full Year 2022 FInancial Results